About Federal Bank Car loan in Ahmedabad

Formerly known by the name Travancore bank, Federal bank is one of the prime private sector commercial banks in the country which was established in the year 1931. The bank was formed during the country’s independence struggle. The bank has about 1250 branches and 1516 ATMs in different states of the country. The bank is working on the ultimate goal of becoming the most praised and applauded bank in the entire country. It has delivered a variety of products to the customers that have given wings to their dreams. It has devoted proper attention and time towards taking care of the needs of the people in the country. It was the first bank which provided the facility of RTGS in all the branches. It received awards under two categories at the MasterCard Innovation Awards 2016. The awards were won under the categories of ‘Debit Cards Initiatives’ and ‘Acquiring Business Initiatives’.

Ahmedabad is the former capital of the state of Gujarat and is one of the important cities of India. It has emerged as a crucial economic and industrial hub in the country. It has seen the development of housing sector on a large scale due to the city’s growing population. The Ahmedabad Stock Exchange is the second oldest stock exchange in the country. Federal bank has opened up more than five branches in the city that are working to meet the financial needs of the customers.

The simple feeling of driving your own car gives you so much happiness. That joy can’t be described in words. After all, a car is an investment of a lifetime. Federal bank offers a car loan to suitable applicants who are able to meet the eligibility norms. The bank believes in the fact that finance should never act as a red signal for the dreams of a customer. The bank wishes to open up the door where a customer can become the proud owner of a car. Therefore, it offers feasible interest rates to the customer.

Federal Bank Car loan in Ahmedabad at a glance

Particular

Details

Interest rate

9.15% - 9.45%

Loan amount

Will depend on the bank’s norm

Tenure

New cars: 7 years (for salaried)

Pre-owned cars: 5 years

Processing fee

As per the bank’s norm

Pre-payment charge

As per the bank’s norm

Eligibility criteria

Residents individuals and big corporates are eligible to apply for a Federal Bank car loan in Ahmedabad.

The applicant needs to take home at least ₹ 7,500 after meeting all the EMI commitments. You should note that this also includes the proposed EMI for the car loan he/she will take

Documents required

Two photographs of passport size of both the applicant and the co obligant

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